Hsbc Holdings PLC Buys Shares of 70,358 LPL Financial Holdings Inc. $LPLA

Hsbc Holdings PLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 70,358 shares of the financial services provider’s stock, valued at approximately $19,782,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Osterweis Capital Management Inc. bought a new position in LPL Financial in the second quarter valued at approximately $26,000. Clearstead Advisors LLC lifted its stake in LPL Financial by 3,650.0% during the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 73 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in shares of LPL Financial in the 4th quarter valued at $36,000. Physician Wealth Advisors Inc. boosted its holdings in shares of LPL Financial by 580.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 116 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of LPL Financial in the 4th quarter valued at $50,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Up 0.3%

NASDAQ LPLA opened at $361.22 on Friday. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial Holdings Inc. has a twelve month low of $260.15 and a twelve month high of $400.16. The company has a market cap of $28.44 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 0.61 and a beta of 0.48. The business’s fifty day moving average is $331.59 and its 200 day moving average is $314.83.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the prior year, the firm earned $4.51 EPS. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 24.09 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 14th. LPL Financial’s payout ratio is 9.57%.

Insider Transactions at LPL Financial

In other news, Director Matthew Enyedi sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the transaction, the director owned 13,121 shares of the company’s stock, valued at $4,628,039.12. This represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the transaction, the director directly owned 6,415 shares of the company’s stock, valued at $1,962,990. This represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 5,427 shares of company stock worth $1,910,778. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. William Blair reiterated an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. BMO Capital Markets boosted their target price on LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Barclays increased their target price on shares of LPL Financial from $394.00 to $401.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $406.69.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.